The irony in my post slipped right by you. To be clear, Trump is not a genius. It was his accountants who figured out how to convert his bondholders' and banks' investment losses into tax deductions for Trump. And I do not believe defaulting on the national debt is a good idea.
I won't be voting for Trump or Biden. Trump is a lot like a couple of people I've had the misfortune to work with -- impetuous, overconfident, selfish narcissists who are very good at selling and very poor at delivering. And who play fast and loose with the truth. Those characteristics, related to character, should be disqualifying. Biden might have been OK for a Democrat, but Sanders and others have swung him far to the left. He's going to jack up taxes, run up the national debt even more than Trump, and I shudder to think what may happen to the oil and gas industry, which is very important to our well being here in Texas.
And it's not only that. The Democratic and Republican Parties could at least pick candidates for the most powerful position in the world from people who are on top of their game or close to it. These two are twenty years past it.
Originally Posted by Tiny
Defaulting on the national debt, since we can print/create any money that we need, is totally pointless.
I mean, if the government wanted to buy a trillion dollars worth of oil for the storage tanks, we could wire the money to the Saudi's, they would happily take it, and we would have the black gold.
We would just create the money and send it to them. What could be better than that?
So, when we borrow money from others and need to pay it back, just create more money! Kudos to Woodrow Wilson, even if he was a eugenics proponent - the Federal Reserve is the greatest institution ever created by our government and it is my understanding that old Woodrow is the one who helped get it done.
The only thing I don't like about it is all the people who get rich off being insiders...